Question $5$

$2$ pts

You take out the following mortgage:

Borrow $$15,000$ at a rate of $9\%$ and will repay in monthly payments over $5$ years.

What is the balance on this mortgage after the $40$ th payment?

$$5,762\mathrm{.}94$

$$4,418\mathrm{.}32$

$$6,901\mathrm{.}19$

$$2,544\mathrm{.}99$